Expecting first baby - childcare costs don't add up

galvanizersbaby

looks good giger - most nurseries have a similar development programme though (there were new laws introduced recently)
Personally I've become a bit irritated with my nursery trying to follow their programme to develop my 2 - I would have preferred them to have been left to have fun and wait until they start school for this but that's a different rant!
Corporate scheme - any way either of you could convince your employers? - long shot but worth a go!

Have a look and see if there's any good ones near where you work just to check it out

sreppaw

giger wrote: »

my fiancees work place is a mile away but takes an hour on the bus :mad:

!!!!!!? I can walk a mile in less than 20 minutes! Or cycle in less than 5

RoxieW

I found it a struggle to accept that it wasnt financial viable for me to work. But thats the way it is at the moment. It does seem mad as wheres the incentive for 2 parent families? Even when mine are at school, you still have to think about wraparound care/holidays. I think its by far the easier option for the woman to stay at home (was going to be pc and change it to 'person' but wont). I think there should be help for all, not just low earners - or why bother working hard for that promotion or bonus or putting in extra hours if its given with one hand and then taken away with the other?
You'll either have to pay for your wife to work, or she'll have to stay at home.
Good luck:)

hazelbunny

giger wrote: »

Also, I have been told that because we have savings (shock, horror!) even with her giving up work we are not entitled to WTC and the savings must be spent first

This isn't correct. Savings aren't counted for tax credits, only interest over £300 p/a is counted for TC purposes.

giger

sreppaw wrote: »

!!!!!!? I can walk a mile in less than 20 minutes! Or cycle in less than 5

Unfortunately that is a road mile, with no paths as most of it is dual carriageway and busy junctions. So you either have to drive it in 5mins or take a 1 hour bus ride (into town and then back out). Don't ask. And they are trying to encourage ppl to stop driving :mad:

giger

hazelbunny wrote: »

giger wrote:

Also, I have been told that because we have savings (shock, horror!) even with her giving up work we are not entitled to WTC and the savings must be spent first

This isn't correct. Savings aren't counted for tax credits, only interest over £300 p/a is counted for TC purposes.

Interesting. I thought as everything is means tested they took into account all your finances. On one of the government websites you enter you salary and it calculates tax credits. You then enter savings and it takes it all away saying you are not entitled to any.

giger

galvanizersbaby wrote: »

Corporate scheme - any way either of you could convince your employers? - long shot but worth a go!

Already spotted and on the case

bestpud

giger wrote: »

Interesting. I thought as everything is means tested they took into account all your finances. On one of the government websites you enter you salary and it calculates tax credits. You then enter savings and it takes it all away saying you are not entitled to any.

I can confirm that savings do not count for tax credit purposes.

The interest you earn on savings does, but then they disregard the first £300 a year, so if you'd have to have pretty substantial for it to wipe out your award all together!

giger

It must have been down to a quirk on the website again. I do earn over £300 interest on my savings but I certainly wouldn't call it substantial.

I'll try the site again and see if it makes anymore sense now I have more knowledge from you kind folk :cool:

RoxieW

I find the actual tax credits website more accurate than entitled to - go to the home page then 'do I qualify' and put in your details as if you've just had baby. You should be able to work out a monthly amount from that.